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linda_us, Master's Degree

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A client visits your office for the following tax advice on

Customer Question

A client visits your office for the following tax advice on December 1st. My fiancé and I are thinking of getting married in the next month. We have 1 child together. Would it be better for us to get married on December 31st or wait until January 1st for income tax purposes? What tax advice would you give your client, what additional questions would you ask and how would you support you conclusion?

The first thing I would do is ask about their income. If one of them has a lot more income than the other, it could benefit the two of them to get married.

If you have a tax program, I would collect as much information as I could and do a scenario with both of them as Single and another with their being married.

I would do some scenerio's because sometimes Married Filing Jointly income tax brackets and standard deduction are not always equal to twice the single income tax bracket and standard deduction. Under current law, the marriage penalty is partly helped because the lower income tax bracket (10% and 15%) and the standard deduction for MFJ are exactly double that of single individuals.